Nicolet Advisory Services LLC Decreases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Nicolet Advisory Services LLC trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 23.7% during the third quarter, Holdings Channel.com reports. The firm owned 2,845 shares of the financial services provider’s stock after selling 882 shares during the period. Nicolet Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Financial Council LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter worth $238,000. Meridian Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $1,071,000. GM Advisory Group LLC acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth about $232,000. Raymond James Trust N.A. increased its holdings in shares of The PNC Financial Services Group by 1.3% in the 3rd quarter. Raymond James Trust N.A. now owns 40,694 shares of the financial services provider’s stock valued at $7,522,000 after acquiring an additional 530 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of The PNC Financial Services Group by 0.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,044,283 shares of the financial services provider’s stock worth $213,003,000 after acquiring an additional 5,780 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the sale, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,546 shares of company stock worth $5,317,200 over the last three months. 0.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Stephens upped their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Barclays lifted their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $186.96.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $210.07 on Friday. The firm has a market cap of $83.35 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1-year low of $127.15 and a 1-year high of $214.19. The firm’s fifty day moving average price is $191.01 and its 200 day moving average price is $174.71.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.60 earnings per share. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.05%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.